TradingMarkets’ 7 Stocks You Need To Know About For Tuesday
Stocks were lower Friday even amid retreating energy
prices.
The International Energy Agency said it would release petroleum supplies. Oil
fell 2.7%, but still was up 2.2% on the week. Unleaded gas futures fell 9%.
Today’s report by the US Minerals
Management Service showed the number of platforms and rigs still evacuated or
shut down declined sharply but the production lost remained very high. 40.05% of
819 platforms and 39.55% of 137 rigs in the Gulf of Mexico remain evacuated or
shut down. Daily oil and gas production lost in the Gulf of Mexico was 88.53%
and 78.66% respectively.
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Energy prices declined as more
details emerged about the release of crude oil from the Strategic Petroleum
Reserve and the EU pledged to donate oil to the US. Harbor Unleaded Gas
-9.35% led the energy complex lower, followed by Heating Oil -4.89%,
Crude Oil -2.73% and Natural Gas -0.56%. Read other articles on
possible effects Katrina will have on interest rates, commodities, stocks and
currencies by
Mark Boucher,
Thomas Neuhaus and
Kathy Lien.
Southwest
(
LUV |
Quote |
Chart |
News |
PowerRating)
was upgraded on Friday and popped a little. I know it’s hard to get excited
about the airlines on the long side, but if crude oil prices happen to fall,
they will rally.
Merrill Lynch reiterated its buy on GE on Friday.
